Some examples:
* We don’t have a pension crisis, we have a retirement INSECURITY crisis where 1 in 7 seniors in America live in poverty and where nearly 1 in 5 who are NEAR RETIREMENT have zero money saved.
* Instead of dismantling public pension systems, we should be helping create more employer-based retirement plans: 1 in 4 workers with full-time jobs don’t have access to a retirement plan.
* Reed’s proposal is an attack on the retirement security of teachers, nurses, firefighters, police and other public employees.
* It will reduce retirement income for millions of Californians that fuels our economy. For example, the $12.7 billion CalPERS paid benefits results in $30 billion in economic activity.
* Many public employees (for example, teachers, firefighters and police) do not receive Social Security; this measure will undermine the ability of retirees to live with dignity.
* It will be difficult to recruit and retain teachers, firefighters, police officers and other public employees if promised benefits can be taken away.
* This measure is being funded by the same failed politicians and Wall Street bankers who drove the economy into ruin and who will profit from risky 401K style plans.

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